We meticulously examine all relevant documents, including Wills, if available, and check their validity and registration status.
After the death of the property owner, there are usually many different types of assets which need to be transferred to the rightful legal heirs or beneficiaries. In India, the procedure to transfer assets varies based on a number of different factors, namely:
Presence or absence of a valid and/or registered Will
Jurisdiction where the Will was written
Location of the property in India
Type of property being transferred
Whether nomination has been done for financial assets
Furthermore, the requirements differ based on the type of asset as well as the institution housing these assets.
At Yellow, our expert team is well versed with the transfer requirements of both Indian and NRI families for all asset types based in India.
We offer a comprehensive end-to-end solution for the seamless transfer of all types of assets, from life insurance, pension, immovable properties and movable assets, following the passing of a family member.
We meticulously examine all relevant documents, including Wills, if available, and check their validity and registration status.
Our experts thoroughly assess the deceased owner's property, including both immovable and movable properties as well as any insurance held by the deceased person.
In the case of financial assets with nominations, we'll verify and facilitate the transfer according to the nominee's details.
We ensure that all legal requirements and jurisdictional considerations are met, tailored to the specific circumstances of your case.
Our end-to-end solution simplifies and streamlines the complex process of asset transfer, saving you time and reducing the administrative burden during this challenging period.
You'll have access to our team of experts who are well-versed in Indian and NRI family requirements, providing you with professional guidance every step of the way.
With a team of 500+ specialised agents, lawyers and CAs across India to help take care of all the legalities and paperwork, we offer the most comprehensive and hassle-free solution nationwide.
Without a Will, the process will typically include procurement of a legal heir certificate, family tree document, succession certificate, or similar documents which can establish the rightful claim of the heirs as per the succession laws.
Following the procurement of proofs, the legal heirs will have to approach the various authorities and banks, asset custodians, etc. in order to submit the paperwork as required by each entity. The different entities typically have different forms and steps to be followed before they will transfer the property into the name of the legal heirs or beneficiaries.
In the presence of a Will, documents such as legal heir certificate, succession certificate etc. are typically not required. Furthermore, if a nomination has been properly entered for financial assets, the transfer of such assets can happen quite quickly after submitting proof of demise. This demonstrates the importance of creating a valid Will and entering nominations wherever possible.
In certain cases, a court process will be mandatory. Such process is called Probate of Will or Letters of Administration.
The transfer of property after death is a complex process which can take up to three years or longer, depending on the presence or absence of a valid Will, the type of property, location of property, location of legal heirs, etc.
Applying for a legal heir or succession certificate can be a complex process. To make it easier, you can rely on Yellow's services. We can assist you in coordinating the process and obtaining the certificate smoothly. Read more about how Yellow can help you to obtain a succession certificate.
Disputes among legal heirs during the property transfer process can be resolved through legal procedures outlined in the Hindu Succession Act, Indian Succession Act, and other applicable laws. In India, these procedures often involve the intervention of competent authorities to ensure a fair and just distribution of assets among the rightful heirs.
Navigating the aftermath of a loved one's passing and the complexities of asset transfer can be overwhelming. Yellow is here to provide the guidance and support you need.